Over $100 billion withdrawn from Ukraine abroad in 30 years - ARMA.

Ukraine has lost over $100 billion through the withdrawal of assets abroad

The National Agency for Detection, Search and Management of Assets (ARMA) reported that over 100 billion US dollars were withdrawn from the country during the years of Ukraine's independence. The head of ARMA, Olena Duma, spoke about this during a round table discussion on 'How to return blocked Russian money to Ukraine.'

We have analyzed that as of today, we can talk about a figure of over 100 billion US dollars as a dynamic figure located abroad.

In order to recover the withdrawn assets, ARMA has developed and approved a procedure for the realization of arrested assets abroad, which will come into effect in July 2023. However, the choice of the agency to conduct the auctions will not remain on a weighty buyer. Instead, a competition commission will be created with the participation of representatives of the Ministry of Economy and the Ministry of Justice, which will select the auction organizer according to defined criteria.

Olena Duma also explained that ARMA takes into account the experience of selling similar assets, whereby a world auction house may be proposed for yachts, a real estate agency for real estate, and specialized platforms for art objects.